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Thailand Turns to Crypto

Thailand’s recent crypto tax waiver announcement could be a gamechanger in boosting Thailand’s economy.

Welcome to The Daily Forkast – March 16, 2023 – presented by Joel Flynn.

Many countries around the world are still recovering from the COVID-19 pandemic. Among those are Thailand, which has only recently returned to growth. Even though Thailand lags behind its regional competitors, Bangkok emerged as the world’s 10th largest crypto hub. Chainalysis also ranks the country at 8th place in its global crypto adoption index.

The country’s Ministry of Finance recently announced a corporate income tax and VAT waiver for firms that conduct initial coin offerings, which would cost the government an estimated US$1 billion in tax revenue but could be a game changer for Thailand’s ever-growing crypto scene.

We’ll have more on that story in this episode of The Daily Forkast.